What a great announcement! I cannot believe the market hasn't reacted more favourably to this.
There are smarter people in the room that I'm sure will do the calculations but from what I can see, this should add ~7MMBOE to Brooksides reserves and possibly be worth around $100mill once proven up.
On top of this, being wedged between the Flames and Jewell DSU's, now they can sell the woodford formations in all three so that the buyer can drill across 3 spacing units instead of one. Not sure if this adds value to the price but I'd think it would be worth a premium now!!
I knew there was a reason it had been so quiet, and this is an absolute cracker of a lease to pick up. Give it 6 months and it will be very interesting to see where the share price is.
I will be sitting down to reassess what I think the NPV of the company is worth, but this will add a significant value to what I had it pegged at.
As Dan says. Great day (late) to be a Brookie
What a great announcement! I cannot believe the market hasn't...
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